Rite Aid Corporation (NYSE:RAD) Director Myrtle S. Potter sold 28,189 shares of Rite Aid Corporation stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $2.09, for a total transaction of $58,915.01. The sale was disclosed in a filing with the SEC, which is available through this link.

Shares of Rite Aid Corporation (NYSE RAD) traded down 0.48% during trading on Thursday, hitting $2.08. 12,082,097 shares of the company’s stock were exchanged. The stock’s market cap is $2.18 billion. The stock’s 50-day moving average price is $2.34 and its 200-day moving average price is $3.16. Rite Aid Corporation has a 1-year low of $1.90 and a 1-year high of $8.77.

Rite Aid Corporation (NYSE:RAD) last posted its earnings results on Thursday, September 28th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.83 billion. Rite Aid Corporation had a net margin of 0.28% and a negative return on equity of 7.51%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, equities analysts expect that Rite Aid Corporation will post ($0.08) earnings per share for the current fiscal year.

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RAD has been the subject of several analyst reports. Zacks Investment Research raised shares of Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 29th. Cowen and Company reissued an “outperform” rating and set a $4.70 price target on shares of Rite Aid Corporation in a report on Monday, July 3rd. Mizuho downgraded shares of Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 price target for the company. in a report on Thursday, July 20th. Guggenheim reissued a “neutral” rating on shares of Rite Aid Corporation in a report on Monday, July 3rd. Finally, Bank of America Corporation reissued an “underperform” rating and set a $2.00 price target on shares of Rite Aid Corporation in a report on Friday, June 30th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $3.82.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Rite Aid Corporation by 0.4% in the second quarter. Vanguard Group Inc. now owns 84,788,103 shares of the company’s stock worth $250,125,000 after acquiring an additional 353,087 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Rite Aid Corporation by 4,995.0% in the first quarter. BlackRock Inc. now owns 50,473,198 shares of the company’s stock worth $214,510,000 after acquiring an additional 49,482,563 shares during the last quarter. FMR LLC lifted its holdings in shares of Rite Aid Corporation by 204.0% in the second quarter. FMR LLC now owns 29,123,366 shares of the company’s stock worth $85,914,000 after acquiring an additional 19,542,772 shares during the last quarter. State Street Corp lifted its holdings in shares of Rite Aid Corporation by 6.2% in the first quarter. State Street Corp now owns 20,138,093 shares of the company’s stock worth $85,585,000 after acquiring an additional 1,170,078 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Rite Aid Corporation by 14.9% in the first quarter. Morgan Stanley now owns 8,801,138 shares of the company’s stock worth $37,405,000 after acquiring an additional 1,143,809 shares during the last quarter. 52.62% of the stock is owned by hedge funds and other institutional investors.

About Rite Aid Corporation

Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.

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